UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 16)*
Chesapeake Corporation
(Name of Issuer)
Common Stock, $1.00 par value
(Title of Class of Securities)
165159 10 4
(CUSIP Number)
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided
in a prior cover page.
The information required in the remainder of this coverage page
shall not be deemed to be "filed" for the purpose of Section 18
of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall
be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
CUSIP No. 165159 10 4 Page 2 of 8 Pages
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sture G. Olsson
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) ___
(b) ___
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
NUMBER OF 5 SOLE VOTING POWER 908,355
SHARES
BENEFICIALLY 6 SHARED VOTING POWER 1,162,080
OWNED BY (See No. 9 below)
EACH 7 SOLE DISPOSITIVE POWER 1,373,235
REPORTING
PERSON 8 SHARED DISPOSITIVE POWER 1,015,614
WITH (See No. 9 below)
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON 2,448,849
The filing of this statement shall not be construed as an
admission that Mr. Olsson is, for purposes of Sections
13(d) or 13(g) of the Securities Exchange Act of 1934, the
beneficial owner of the shares listed on lines 6 or 8.
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.5%
12 TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
SCHEDULE 13-G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Item 1(a) Name of Issuer:
CHESAPEAKE CORPORATION
Item 1(b) Address of Issuer's Principal Executive Offices:
James Center, Box 2350, Richmond, Virginia 23218-2350
Item 2(a) Name of Person Filing:
Sture G. Olsson
Item 2(b) Address of Principal Business Office, or, if none,
residence:
Chesapeake Corporation, James Center, Box 2350,
Richmond, Virginia 23218-2350
Item 2(c) Citizenship:
United States
Item 2(d) Title of Class of Securities:
Common Stock ($1.00 par)
Item 2(e) CUSIP Number:
165159 10 4
Item 3 If this statement is filed pursuant to Rule 13d-1(b) or
13d-2(b), check whether the person filing is a:
Not applicable
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Item 4 Ownership:
(a) Amount Beneficially Owned: 2,448,849
(b) Percent of Class: 10.5%
(c) Number of shares as to which such person has:
(i) sole power to vote or direct the vote -
908,355
(ii) shared power to vote or to direct the vote -
1,162,080*
(iii) sole power to dispose of or to direct the
disposition of - 1,373,235
(iv) shared power to dispose or to direct the
disposition of - 1,015,614*
*The filing of this statement shall not be construed as
admission that Sture G. Olsson is, for purposes of
Sections 13(d) or 13(g) of the Securities Exchange
Act of 1934, the beneficial owner of the 1,162,080
shares described in Item 4(c)(ii) or the 1,015,614
shares described in Item 4(c)(iv).
Item 5 Ownership of Five Percent or Less of a Class:
Not applicable
Item 6 Ownership of More than Five Percent on Behalf of
Another Person:
Crestar Bank and Sture G. Olsson are co-trustees of
certain trusts which hold:
206,090 of the 908,355 shares described in Item
4(c)(i); 771,630 of the 1,162,080 shares described in
Item 4(c)(ii); 594,530 of the 1,373,235 shares
described in Item 4(c)(iii); and 383,190 of the
1,015,614 shares described in Item 4(c)(iv). Other
persons have the right to receive or the power to
direct
<PAGE>
the receipt of dividends from, or the proceeds from the
sale of: 529,200 of the remaining 702,265 shares
described in Item 4(c)(i); the remaining 390,450
shares described in Item 4(c)(ii); 605,640 of the
remaining 778,705 shares described in Item 4(c)(iii);
and the remaining 632,424 shares described in Item
4(c)(iv).
Item 7 Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on by the
Parent Holding Company:
Not applicable
Item 8 Identification and Classification of Members of the
Group:
Not applicable
Item 9 Notice of Dissolution of Group:
Not applicable
Item 10 Certification:
Not applicable
<PAGE>
Signature
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set forth in
this statement is true, complete and correct as of December 31,
1996.
2/5/97 /s/ Sture G. Olsson
Date Signature
Sture G. Olsson
Name/Title
<PAGE>
STURE G. OLSSON
Schedule 13-G
Summary of Item 4(c)
(i) Sole Power to vote or to direct the vote:
Name Amount
Sture G. Olsson 173,065
Signe Maria Olsson Trust (1966) 206,090
Inga Residuary Trust (Nylander) 469,200
Elis Olsson Memorial Foundation 60,000
Total (i) 908,355
(ii) Shared Power to vote or direct the vote:
Name Amount
Inga Olsson Trust (Nylander) 136,440
S. G. O. Trust 136,440
Signe Olsson Trust 383,190
Elis Olsson Trust 252,000
Shirley C. Olsson 38,010
S. G. Olsson Trust (1976) 216,000
Total (ii) 1,162,080
(iii) Sole Power to dispose of or to direct the
disposition of:
Name Amount
Sture G. Olsson 173,065
Inga Olsson Trust (Nylander) 136,440
S. G. O. Trust 136,440
Signe Maria Olsson Trust (1966) 206,090
Elis Olsson Trust 252,000
Inga Residuary Trust (Nylander) 469,200
Total (iii)1,373,235
<PAGE>
(iv) Shared Power to dispose or to direct the
disposition of:
Name Amount
Signe Olsson Trust 383,190
Shirley C. Olsson 38,010
Carl Olsson Trust 174,114
Carl Olsson Residuary Trust 204,300
S. G. O. Trust (1976) 216,000
Total (iv) 1,015,614
Summary of Item 6
Shares held by Crestar Bank and SGO as co-fiduciaries:
Name Amount
Inga Olsson Trust (Nylander) 136,440
Elis Olsson Trust 252,000
Signe Maria Olsson Trust (1966) 206,090
Signe Olsson Trust 383,190
Item 6 Total 977,720
NOTE:Shares listed under the "right to receive or the power to
direct the receipt of dividends from, or the proceeds from
the sale of" shares in response to Item 6 include all shares
except the 173,065 shares held by Sture G. Olsson in his
name.
